I do not trade on technicals, but I like to watch them. It is statistically hard /rare for a stock price to trade outside of the Bollinger lines. RNF approached that yesterday. A rebound had to occur. Now, this could be what people call a dead cat bounce, but I do not think so. I just find this observasion very interesting. Now on to springtime and a great planting season with plenty of rain.
You can't be serious? RNF is an Income Stock with a good dividend (distribution, whaaatever) that is greatly OVERSOLD, and likely has a very bright future.
The indexes, however, are vastly OVERBOUGHT, and due for at least a 5% correction, perhaps more, soon, if not now. AND, it is FEBRUARY, one of the worst performing months seasonally. RNF was one of the leaders on the way up in this recent 3 month or so bull run, so it makes sense it would be an early candidate for a correction as well (leading the pack perhaps to the downside, but now it is greatly oversold, and likely a buy). Could RNF see more downside? Possibly. But I'm a buyer at these levels.
There's a clue or two or three in what I just wrote somewhere, I'm sure.